Res 2018-057/approving an Agreement of Sale with the Trust for Public Land for the City to purchase approximately 151 acres of land for the third and final acquisition out of the Wildenthal Tract at a cost to the City of $2,265,368, subject to the award t

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B. Claud Kern Wildenthal and Margaret D. Wildenthal, husband and wife (collectively "'Current Owner") are the owners of certain real property located in Hays County, Texas consisting of approximately 1, 51 acres legally described on Exhibit A attached hereto and made a part hereof. Said real property, together with any and all improvements, fixtures, timber, water and/or minerals not otherwise shown of record to be outstanding in third parties, located thereon and any and all rights appurtenant thereto including but not limited to timber rights, water rights, mineral right .and access rights shall be referred to in this Agreement as the "Property". C. Seller has proposed to acquire the Property from Current Owner. D. Buyer wishes, to purchase the Property from Seller and Seller wishes to sell the Property to, Buyer in accordance with the terms and conditions set forth in this Agreement. NOW'RIEREFORE, FOR GOOD AND VALUABLE CONSIDERATION, Ti FIE PARTIES AGREE AS FOLLOWS: L Purchase and Sale. Seller agrees to sell to Buyer and Buyer agrees to buy from Seller the Property for $2,265,36&00 (the ""Purchase Price") pursuant to the terms and conditions set forth herein, The Purchase Price shall be payable in cash, at Closing (as defined below), subject to any credits, pro -rations and aqiustinents provided elsewhere in this Agreement, 2. Condition of the ELqperty. a. City agrees that City has: (i) made an independent investigation of the physical condition of the Property including but not limited to the condition of the soil, the presence of hazardous materials or contaminants, other physical characteristics, and compliance with any statutes, ordinances or regulations; (ii) studied. all aspects or circiuristances of the Property which City deems material or relevant, (iii) requested and received from TPL all other documents and materials which City deems material or relevant with respect to the transaction contemplated under this Agreement; (iv) had -full, complete and satisfactory access to the Property, and all records relating to the same which City has requested and/or deerned material or relevant; and Agri -at of Sale, City of Sari Marcos Wildetithat Phase 3 2